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Japan's Toshiba has entered into an agreement with the French oil and gas company Total to sell its liquefied natural gas business in the United States. The deal involves the acquisition by Total of all shares of Toshiba America for $15 million, as well as the transfer to the French company of all Toshiba Energy Systems and Solutions contracts related to the LNG business, resulting in a total of $800 million. All contracts relating to the LNG business will also be transferred to the French company. Companies still have to go through all the necessary procedures to meet the requirements of regulators and partners. The closing of the deal, which is scheduled for April 2020, will be for Toshiba the completion of its exit from the recognized inappropriate LNG business. In its financial results, the company will record a loss of approximately 93 billion yen. Completion of the transaction will allow Total to become one of the main LNG exporters from the United States by 2020.
Asian share markets advanced on Wednesday as growing hopes about a coronavirus vaccine supported risk appetite. Meanwhile, the euro reached its four-month peak backed by the prospect of stimulus ahead of a crucial EU meeting. MSCI’s ...
Alibaba Group Holding Ltd's (BABA) co-founder Jack Ma sold $8.2 billion worth of shares, reducing his stake in the company over the past year from 6.2% to 4.8%. The Chinese e-commerce company released its annual report on Friday. The divestment ...
Berkshire Hathaway Inc.’s (BRK.A, BRK.B) Chief Executive Officer Warren Buffett announced on Monday that its energy unit agreed to purchase the natural gas transmission and storage assets of utility company Dominion Energy Inc. (D.N) ...
On Sunday, American Airlines Group Inc. (AAL) said that it is planning to raise as much as $3.5 billion from stock and notes offerings, as the ailing U.S. carrier grapples with the financial fallout of the travel restrictions caused by the ...
American Airlines Group Inc. stated on Wednesday that it plans to cut 30% of its management and support staff or almost 5,000 jobs because of the coronavirus outbreak. American and other airlines are scrambling to cut costs because of the ...
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